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20130101
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KTVU (FOX) 2
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FOX
Dec 27, 2012 6:00pm PST
. the perez -- so-called fiscal cliff. the president is expected to meet with leaders tomorrow and congress will conseen a special sunday -- convene a special sunday session. ktvu's consumer editor tom vacar is here with a look at the building angwer washington, especially -- anger with washington especially among californians. >> reporter: it could bring another recession and higher unemployment. >> reporter: californians voted for prop 30. every californian will pay a quarter percent higher sales. the fiscal cliff will hit all americans with higher taxes. and that could lead to a u.s. economic down turn. and that could derail many of the benefit prop 30 could have meant for the state. >> i don't know if there is a word to describe how mad the public will be. nobody will be happy to see that happen. >> if taxes go up it is not going to be a happy time. i think that is what is going to happen. >> reporter: the lowest income folks will see their pay shrink by 3.5%. average earners 4%. top earners 6%. that says nothing about other unknowns. >> we will be very angry. it will hit the people --
FOX
Dec 28, 2012 6:00pm PST
news. >>> an agreement to the fiscal cliff now appears up to mitch mcconnel and harry reed. while the president said the meeting was constructive he added if congress can't reach a deal he will ask senator reed to at least propose a basic package. >> one that protects the middle class from an income tax hike, extends the vital lifeline of unemployment insurance to 2 million americans looking for a job. and lays the ground work for future corporation by more economic growth and deficit reduction. >>> with no agreement on the fiscal cliff extended unemployment benefits expire tomorrow for 24,000 unemployed californians. one woman says she's been out of work for two years. she said if it weren't for the long term unemployment benefits she doesn't know how she would get by. >> not being able to put food on table. not being able to pay my bills. >> those individuals and families are on their own to figure out how they're going to have an income until they have go on and have a job again. >> reporter: 1.2 million americans could lose their extended unemployment benefits nationwide. >>>
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